CenterPoint Energy implements independent board leadership and governance structure
2021-07-22T05:00:00Z

Houston – July 22, 2021 – CenterPoint Energy, Inc. (NYSE: CNP) ("CenterPoint" or the "Company") today announced the unanimous decision of the CenterPoint Board's Independent Directors to implement a new independent board leadership and governance structure. The Board named Martin Nesbitt, chair of the Nominating and Governance Committee, as its new independent board chairman, effective immediately.

  • Martin Nesbitt appointed as Independent Chairman of the Board, effective immediately
  • Independent directors eliminate Executive Chairman role
  • Milton Carroll to depart from Executive Chairman position, effective immediately, and from the Board on September 30 
  • Independent directors implement a multi-year retention arrangement for President and CEO Dave Lesar

To institute the Company's new governance structure, this independent seat replaces the position of Executive Chairman. This position has been eliminated by the independent directors of the board, effective immediately. In connection with these decisions by the independent directors, Milton Carroll departs from the Executive Chairman position and as an employee of the Company, effective immediately, and from the Board as a director, effective September 30 of this year, each substantially in advance of Mr. Carroll's current mandatory retirement date in 2023.

CenterPoint's Board, based on extensive feedback from shareholders and evaluation of evolving governance practices, determined that now is the right time to execute this significant leadership and governance transition as the company continues to advance its well-received strategic plan to drive sustainable value for the benefit of all its stakeholders. In connection with today's leadership and governance transition, the Company entered into a multi-year retention grant arrangement with President and CEO Dave Lesar to retain his continued leadership, and to provide executive management continuity, drive successful execution of CenterPoint's value-creation strategy, and provide executive leadership succession planning. The arrangements entered into with Mr. Carroll and Mr. Lesar will be publicly filed on Form 8-K.

Mr. Nesbitt said, "CenterPoint is a backbone of economic vitality and reliable energy delivery for the communities we serve, and CenterPoint's importance is a central part of Milton Carroll's legacy. As we continue to seize opportunities ahead of us, I believe that our unique value proposition will be further strengthened by CenterPoint's commitment to strong corporate governance, including through the leadership and governance transition we announce today. I am honored to have been selected to lead CenterPoint as independent Chairman of the Board and on behalf of the Board, we express our deepest gratitude and respect for Milton, who has served CenterPoint and its stakeholders tirelessly for nearly 30 years. Milton has been a steady source of inspiration, leadership and guidance to all who have known him, and his stewardship and commitment to CenterPoint's success have been unmatched. Milton was instrumental in the creation of CenterPoint, provided initial board leadership and with the help of many others, navigated CenterPoint through the difficult transition of the early days of the deregulation of the Texas electrical market. He then helped lead the company to where it is today – stronger than ever, with a market capitalization near its historic high. I look forward to continuing to work closely with our incredible CEO Dave Lesar, who has demonstrated tremendous energy and accomplishment since he became CEO only a year ago."

Mr. Carroll said, "In the nearly 30 years since I joined CenterPoint's Board in 1992 and during my time as Executive Chairman of the Board, CenterPoint has successfully navigated industry, energy and regulatory challenges, business transitions and changes in our nation and communities. Thanks to our great CenterPoint team, we are an indelible part of the fabric and history of Texas and the other territories we serve. I am excited to see how CenterPoint continues to evolve under the leadership of Marty and Dave and reach even greater heights of potential and promise. It has been an honor to serve as Chairman and then Executive Chairman alongside my fellow directors."

Mr. Lesar said, "We have been on a very focused mission over the past year to unlock the untapped power and potential within this company, its premium regulated utilities and its exceptional talent. Milton has been a critical partner throughout this journey, and with our utility-focused strategy, we are now taking advantage of the robust capital investment opportunities available to us and are firmly on the path to exit our midstream investments and progress our renewable energy growth objectives. I believe the best is yet to come, and I couldn't be more excited to continue my commitment to CenterPoint's future success and the development of its next phase of leadership over the coming years. On behalf of myself and all our employees, I am deeply grateful to Milton for laying CenterPoint's strong foundation and positioning the company so well for this new era. I am excited for our future and look forward to discussing our second quarter results."

About Marty Nesbitt

Martin H. Nesbitt has been a director since April 2018 and will now serve as the independent Chairman of CenterPoint's Board. Since 2013, he has served as Co-Chief Executive Officer of The Vistria Group, LLC, a Chicago-based investment firm focused on the education, healthcare and financial services industries. Prior to co-founding Vistria, Mr. Nesbitt served as Chief Executive Officer of PRG Parking Management (known as The Parking Spot), an owner and operator of off-airport parking facilities, from 1996 to 2012. Prior to The Parking Spot, Mr. Nesbitt also served as officer of the Pritzker Realty Group, L.P. and as Vice President and Investment Manager at LaSalle Partners, with a variety of responsibilities including investment management for regional retail properties. Mr. Nesbitt has served on the Boards of Directors of American Airlines Group, Inc. since 2015 and Chewy, Inc. since 2020. He also previously served on the Board of Directors of Jones Lang LaSalle.  He is a Trustee of Chicago's Museum of Contemporary Art and serves as Chairman of the Barack Obama Foundation. He previously served as a director of Norfolk Southern Corporation from 2013 to May 2019.

About CenterPoint Energy, Inc.

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Forward Looking Statement
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "continue," "could," "expect," "intend," "may," "plan," "potential," "should," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as executive management continuity and succession planning, the benefits of leadership and governance transitions, corporate governance commitments, strategic plans and value creation, capital investments, business opportunities, future financial performance and results of operations, expectations regarding our midstream investments and renewable energy growth objectives, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

 Recent News

 

 
CenterPoint Energy encourages customers to accelerate their energy efficiency journey through the Home Energy Squad®

Minneapolis – March 27, 2025 – CenterPoint Energy is encouraging Minnesota customers to spring into their energy efficiency journey with the Home Energy Squad®. This home energy assessment program provides a personalized energy savings plan with recommendations to reduce energy waste.

Launched in 2010, the Home Energy Squad® is provided by CenterPoint and Xcel Energy to Minnesota residential customers, including both homeowners and renters. Energy assessments may be discounted or free for customers who qualify. In 2025 alone, more than 1,000 home energy assessments have been completed for Minnesotans throughout the communities CenterPoint serves.

“At CenterPoint, we have a variety of tips, tools and programs to help customers save energy and manage their bills, and the Home Energy Squad® is just one of the many opportunities to boost the energy efficiency of their homes," said Natalie Hedde, CenterPoint's Vice President, Strategic Business Growth and Engagement. “By participating in our energy efficiency programs, customers can make a big difference in cutting energy waste, reducing monthly energy bills and lowering their carbon footprint."

During an assessment, an efficiency expert will identify areas of energy waste and install energy-saving measures such as LED lightbulbs and programmable thermostats, perform appliance and heating system safety checks and assess water heater efficiency. The expert can also connect customers to rebates, helping them upgrade to more efficient appliances and equipment, weatherization programs for air sealing and insulation and with qualified contractors.

Customer participation in CenterPoint's Minnesota energy efficiency programs has reduced carbon emissions by nearly 16.5 million metric tons over the last 29 years, equivalent to removing more than four million cars from the road, and saved customers approximately $2.6 billion.    

CenterPoint is Minnesota's largest natural gas utility, serving more than 930,000 residential and business customers in over 260 communities.

For more information on the Home Energy Squad® and company energy efficiency programs, visit CenterPointEnergy.com/HomeEnergySquad.

 

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As spring begins, CenterPoint Energy continues progress toward strengthening the grid across the Greater Houston area and shares tips to help customers stay safe while saving energy and money

​Houston – March 20, 2025 – With today marking the start of spring, CenterPoint Energy is continuing to strengthen the resiliency of the grid in key areas ahead of the 2025 hurricane season. To date, the company has completed more than 50 percent of several near-term critical resiliency actions and grid improvements outlined in the second phase of its Greater Houston Resiliency Initiative (GHRI), including installing stronger poles, adding more automation devices, undergrounding power lines and trimming hazardous vegetation.

As the company works to complete these steps before the start of hurricane season on June 1, CenterPoint is also helping customers prepare for the warmer weather ahead by sharing tools, easy-to-implement tips and resources to improve the energy efficiency of their homes, and staying safe as they complete projects around their homes.

“Our team remains fully focused on executing our historic effort to strengthen the grid and improve resiliency and reliability. As CenterPoint prepares for hurricane season, we want to remind customers of ways they can prepare, too. The first day of spring serves as a great reminder that warmer temperatures are coming. We encourage our customers to take steps to increase the energy efficiency of their homes so that they can continue to stay comfortable inside year-round while also reducing their energy use," said Tony Gardner, Senior Vice President and Chief Customer Officer at CenterPoint, "We also want to remind customers to keep safety top of mind by taking the time to contact 811 prior to starting any digging projects near their home. By taking this easy step, our customers and community members are taking a critical first step in helping keep themselves, their loved ones and neighbors safe."  

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

  • Do a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and to keep the system running efficiently. 
  • Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape such as around windows and doors or where warm air could enter.
  • Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
  • Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use, so energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.
  • Upgrade to more energy efficient appliances and equipment: When replacing appliances and equipment, look for ENERGY STAR®-certified products for increased energy efficiency and cost savings over time. Energy efficiency rebates may be available for qualifying appliances.

Customers can learn more about energy savings tips and tools that help them prepare for the longer and warmer days in addition to ways to manage their monthly energy bills at CenterPointEnergy.com/SavingsTips.

GHRI Progress Milestone: More than 50% complete on several key metrics
On Sept. 30, CenterPoint announced the launch of Phase Two of the GHRI, which will strengthen the grid in advance of hurricane season, included a series of actions to strengthen resiliency, enable a self-healing power system and reduce the duration and impact of power outages. In February alone, the company made progress in key areas including:

  • Installed approximately 2,900 stronger, more storm-resilient poles built to withstand extreme winds;
  • Cleared another 417 miles of high-risk vegetation near power lines to reduce storm-related outages; and
  • Installed an additional 1,334 automated reliability devices to reduce the impact of outages and improve restoration times; and
  • Undergrounded 47 more miles of power lines to reduce the impact of extreme weather.

The resiliency actions outlined in GHRI Phase Two are expected to lead to more than 125 million fewer outage minutes annually for customers. Through early March, the company has made significant advances across its Greater Houston service area and is on track to complete its work before the start of hurricane season.

CenterPoint will continue to provide updates on its progress toward completing its critical resiliency actions and other GHRI commitments. More information and real-time updates are available at CenterPointEnergy.com/TakingAction.

Electric customers encouraged to enroll in Power Alert Service ®

In addition to reducing energy use and improving efficiency, customers are encouraged to enroll in CenterPoint Energy's Power Alert Service® to receive outage details, estimated restoration times (as available or determined) and customer-specific restoration updates in the event of a power outage. With the option to receive updates via phone call, text or email, Power Alert Service® keeps customers informed of restoration progress during an outage.

Call before you dig 

Spring is a great time to begin outdoor home improvement projects. Anyone planning a project that requires digging should contact 811 at least two days prior to starting work to have underground utilities located and marked at no cost. This includes projects done by customers or their contractors, including building a fence, planting trees, installing a deck, placing a mailbox or laying a patio. 

Visit 811BeforeYouDig.com to learn more about 811 and the process to have underground utility lines located and marked. For more information about natural gas safety, visit CenterPointEnergy.com/Safety.

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With the start of spring, CenterPoint Energy reminds customers of tips and available resources to save energy, manage bills and stay safe

Dayton – March 20, 2025 – With today marking the start of spring, CenterPoint Energy encourages customers to leverage tools, tips and resources as part of their spring cleaning and preparation. Customers can unlock energy savings through a combination of easy-to-implement tips, remain connected to company programs and stay safe as they complete projects around their homes.

“At CenterPoint, we have tips, tools and programs to help customers save energy and manage their bills. The first day of spring serves as a great reminder that warmer temperatures are approaching, and we encourage our customers to take steps to increase the energy efficiency of their homes so that they can continue to stay comfortable inside year-round while also reducing their energy use. By taking small and easy actions, customers can make a big difference in reducing their monthly energy bills," said Tony Gardner, Senior Vice President and Chief Customer Officer at CenterPoint. “We also want to remind customers to keep safety top of mind by taking the time to contact 811 prior to starting any digging projects near their home. By taking this easy step, our customers and community members are taking a critical first step in helping keep themselves, their loved ones and neighbors safe."

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings: 

  • Perform a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and keep the system running efficiently.
  • Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape, such as around windows and doors or where warm air could enter.
  • Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
  • Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use. Energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort. 

Customers can learn more about energy savings tips and tools that help them prepare for the longer and warmer days in addition to ways to manage their monthly energy bills at CenterPointEnergy.com/SavingsTips. ​

Call before you dig 

Spring is a great time to begin outdoor home improvement projects. Anyone planning a project that requires digging should contact 811 at least two days prior to starting work to have underground utilities located and marked at no cost. This includes projects done by customers or their contractors, including building a fence, planting trees, installing a deck, placing a mailbox or laying a patio. 

Visit 811BeforeYouDig.com to learn more about 811 and the process to have underground utility lines located and marked. For more information about natural gas safety, visit CenterPointEnergy.com/Safety. 


With the start of spring, CenterPoint Energy reminds customers of tips and available resources to save energy, manage bills and stay safe

​Minneapolis – March 20, 2025 – With today marking the start of spring, CenterPoint Energy encourages customers to leverage tools, tips and resources as part of their spring cleaning and preparation. Customers can unlock energy savings through a combination of easy-to-implement tips, remain connected to company programs and stay safe as they complete projects around their homes.

“At CenterPoint, we have tips, tools and programs to help customers save energy and manage their bills. The first day of spring serves as a great reminder that warmer temperatures are approaching, and we encourage our customers to take steps to increase the energy efficiency of their homes so that they can continue to stay comfortable inside year-round while also reducing their energy use. By taking small and easy actions, customers can make a big difference in reducing their monthly energy bills," said Tony Gardner, Senior Vice President and Chief Customer Officer at CenterPoint. “We also want to remind customers to keep safety top of mind by taking the time to contact 811 prior to starting any digging projects near their home. By taking this easy step, our customers and community members are taking a critical first step in helping keep themselves, their loved ones and neighbors safe."

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings: ​

  • Perform a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and keep the system running efficiently.
  • Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape, such as around windows and doors or where warm air could enter.
  • Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
  • Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use. Energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.
  • Upgrade to more energy efficient appliances and equipment: When replacing appliances and equipment, look for ENERGY STAR®-certified products for increased energy efficiency and cost savings over time. Energy efficiency rebates may be available for qualifying appliances.​

Customers can learn more about energy savings tips and tools that help them prepare for the longer and warmer days in addition to ways to manage their monthly energy bills at CenterPointEnergy.com/SavingsTips.

Call before you dig 

Spring is a great time to begin outdoor home improvement projects. Anyone planning a project that requires digging should contact 811 at least two days prior to starting work to have underground utilities located and marked at no cost. This includes projects done by customers or their contractors, including building a fence, planting trees, installing a deck, placing a mailbox or laying a patio. ​

Visit 811BeforeYouDig.com to learn more about 811 and the process to have underground utility lines located and marked. For more information about natural gas safety, visit CenterPointEnergy.com/Safety. 


With the start of spring, CenterPoint Energy reminds customers of tips and available resources to save energy, manage bills and stay safe

​Evansville, Ind. – March 20, 2025 – With today marking the start of spring, CenterPoint Energy encourages customers to leverage tools, tips and resources as part of their spring cleaning and preparation. Customers can unlock energy savings through a combination of easy-to-implement tips, remain connected to company programs and stay safe as they complete projects around their homes.

“At CenterPoint, we have tips, tools and programs to help customers save energy and manage their bills. The first day of spring serves as a great reminder that warmer temperatures are approaching, and we encourage our customers to take steps to increase the energy efficiency of their homes so that they can continue to stay comfortable inside year-round while also reducing their energy use. By taking small and easy actions, customers can make a big difference in reducing their monthly energy bills," said Tony Gardner, Senior Vice President and Chief Customer Officer at CenterPoint. “We also want to remind customers to keep safety top of mind by taking the time to contact 811 prior to starting any digging projects near their home. By taking this easy step, our customers and community members are taking a critical first step in helping keep themselves, their loved ones and neighbors safe."

Tips, tools and resources for customers to spring into energy and cost savings

Customers can do the following to help spring into energy and cost savings:

  • Perform a spring cleaning by changing or cleaning the filters in HVAC systems: Air conditioning can represent approximately 50 percent of a home's energy use as outside temperatures increase. Regular maintenance is one of the best ways to extend the life of a home's system, so swap out or clean filters to minimize costly repairs and keep the system running efficiently.
  • Maintain a comfortable temperature indoors year-round: To save energy and reduce cooling costs, use weatherstripping or caulk areas in and around a home where cooled air may escape, such as around windows and doors or where warm air could enter.
  • Block the sun's rays during warmer days: When temperatures increase outside, keep window coverings closed when the sun is shining brightest to maintain a more comfortable indoor temperature.
  • Save hot water while maintaining comfort: Showering accounts for 40 percent of a home's hot water use. Energy-saving showerheads and faucet aerators can help lower energy costs and reduce hot water use without sacrificing comfort.
  • Upgrade to more energy efficient appliances and equipment: When replacing appliances and equipment, look for ENERGY STAR®-certified products for increased energy efficiency and cost savings over time. Energy efficiency rebates may be available for qualifying appliances.

Customers can learn more about energy savings tips and tools that help them prepare for the longer and warmer days in addition to ways to manage their monthly energy bills at CenterPointEnergy.com/SavingsTips.

Electric customers encouraged to enroll in Power Alert Service®

In addition to reducing energy use and improving efficiency, customers are encouraged to enroll in CenterPoint Energy's Power Alert Service® to receive outage details, estimated restoration times (as available or determined) and customer-specific restoration updates in the event of a power outage. With the option to receive updates via phone call, text or email, Power Alert Service® keeps customers informed of restoration progress during an outage.

Call before you dig 

Spring is a great time to begin outdoor home improvement projects. Anyone planning a project that requires digging should contact 811 at least two days prior to starting work to have underground utilities located and marked at no cost. This includes projects done by customers or their contractors, including building a fence, planting trees, installing a deck, placing a mailbox or laying a patio. ​

Visit 811BeforeYouDig.com to learn more about 811 and the process to have underground utility lines located and marked. For more information about natural gas safety, visit CenterPointEnergy.com/Safety.